Long-term residency likely for foreign investors in Oman

Muscat: The government will announce incentives to stimulate the business and investment environment, including granting long-term residency for foreign investors

The decision in accordance with specific controls and conditions that will be announced later after completing their consideration by the Council of Ministers said an official statement.

The proposed long-term measures include initiatives, projects, and programs for economic stimulation by increasing both aggregate demand and aggregate supply and determining expansionary fiscal policies aimed at reducing taxes and encouraging spending, and monetary policies aimed at reducing both taxes and interest rates, as well as reviewing some fees and exemptions that facilitate the flow of investment, assist small and medium enterprises, reduce the burden of the economic situation on them, revive the business market, and create an investor-friendly environment in terms of ease of doing business and obtaining licenses.